Newly-developed Clapham retail asset hits the market
A newly-developed retail asset in Clapham, London has been placed on the investment market.
Offers are being invited for 161-163 Clapham High Street, which comprises two self-contained ground floor retail units, let to Holland & Barrett and Vision Express.
Located in close proximity to Clapham Common Underground Station, the asset produces a rental income of £267,500 per annum and has a weighted average unexpired lease term of 9.12 years to expiry and 7.18 years to break.
Nearby retailers include M&S, Little Waitrose, Sainsbury’s, Five Guys, WHSmith, and Boots.
Offers are invited for the virtual freehold interest of the stores, although the vendor would also consider offers for the entire building.
The upper floors provide 14 self-contained residential flats, which have been sold off on long leases and have a separate entrance off Clapham High Street. These would be included in a potential sale of the freehold interest of the entire building.
Sales for each of the stores individually will also be considered. In addition there is a 10 space car park to the rear of the property, which the vendor would also consider including in a sale.
Green & Partners and Jackson Criss have been appointed to market the properties.